Decisions and Freeze and cease trade orders
Montréal – On July 20, 2017, at the request of the Autorité des marchés financiers (the “AMF”), the Financial Markets Administrative Tribunal (the “Tribunal”) issued various ex parte orders against PlexCorps, PlexCoin, DL Innov inc., Gestio inc. and Dominic Lacroix in connection with their activities relating to an investment in the purchase of PlexCoin, a virtual currency.
More specifically, the Tribunal prohibited PlexCorps, PlexCoin, DL Innov inc., Gestio inc. and Dominic Lacroix from engaging in activities for the purpose of directly or indirectly trading in any form of investment described in section 1 of the Securities Act, including the solicitation of investors in Québec and the solicitation, from Québec, of investors outside the province.
The Tribunal also ordered PlexCorps, PlexCoin, DL Innov inc., Gestio inc. and Dominic Lacroix to withdraw any advertisement or solicitation made on an Internet forum or elsewhere relating to securities or any forms of investment, published or distributed by them directly or indirectly on the Internet or elsewhere.
In addition, the Tribunal ordered PlexCorps, PlexCoin, DL Innov inc., Gestio inc. and Dominic Lacroix to close websites www.plexcorps.com and www.plexcoin.com as well as any similar website that is published or distributed by them directly or indirectly or failing which, to make the sites inaccessible to any IP address in Québec so that Québec residents are unable to consult the sites. The Tribunal also ordered them to post its order on the sites’ home pages.
Lastly, the Tribunal ordered Facebook Canada Ltd. to close the Facebook accounts of PlexCorps and PlexCoin. DL Innov inc. and Dominic Lacroix are also subject to orders issued by the Tribunal on June 13, 2017.
The Autorité des marchés financiers (the “AMF”) is the regulatory and oversight body for Québec’s financial sector.
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